Livingstone casts the net in cross-border deal

mar. 2007

Cookson, the major UK materials science group, is the latest
group to benefit from Livingstone’s international reach, with
the sale of wholly-owned subsidiary Monofrax Inc, a New York
State-based producer of fused cast refractories. Livingstone was
able to introduce Cookson to Cleveland-based M&A house Brown
Gibbons Lang & Co (“BGL”).

Cookson Group plc is a leading materials science company operating
on a worldwide basis in ceramics, electronics and precious metals
markets. With BGL taking the lead, Livingstone also supported a
worldwide marketing campaign which resulted in the sale of the
business to the Austrian global supplier of refractories, RHI, for
$45million.

Monofrax has supplied highly engineered heat and corrosion
resistant refractories for the lining of glass making furnaces to
almost every major glass manufacturer in North America, and many
others across the world.

Referring to his advisory team, Tony Harrison, Cookson’s
Group Head of Treasury and M&A, said, “Given the
obvious importance and sensitive nature of this transaction, we
wanted an experienced financial adviser with global capabilities
and a strong track record of successful corporate divestitures.
From the onset of the engagement, we were impressed with our
advisers’ communicative approach, attention to detail, and
commitment to service. The advisers’ dedication,
professionalism and ethical conduct formed the bedrock of a highly
successful transaction”.

Livingstone partner Jeremy Furniss, says: “This is
another excellent example of our ability to deliver a seamless
corporate finance solutions for UK groups seeking to close
mid-market deals around the world”.